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Citadele privatization also fake!

LawlessLatvia has been alerted of yet another massive EBRD fraud crime against the people of the European Union and for the benefit of Vladimir Putin. The link below is a European Commission Eurostat report dated 23 April 2018 and it seems that nobody noticed the report when it was published. Either that or corruption prevented this fraud revelation from appearing in the media.

As a quick review of earlier events: (1) a whistleblower gave details to EY that Parex Bank was a pyramid fraud in 2004 and EY refused to act, (2) the same whistleblower gave the pyramid fraud info to Latvian officials in 2005 who also refused to act, and Parex chased the whistleblower out of Latvia with murder threats, (3) PM Godmanis gave a pile of money to Parex in 2008 and lied that he was saving Latvia from the United States, (4) PM Dombrovskis gave a pile of money to Parex in 2009 and lied that he was saving Latvia from Sweden, (5) meanwhile more and more evidence confirmed that Parex was a pyramid fraud and was looted by Putin’s Tambovskaya Mafia.

The EBRD got involved in 2009, joining a criminal conspiracy with PM Dombrovskis to trick Latvian people that Parex wasn’t looted by the Mafia and to assist his disinformation campaign to blame Sweden. The EBRD announced that it bought shares in Parex because they were valuable, however later the fake investment was reversed and we discovered that actually Dombrovskis paid the EBRD to pretend to buy the shares.

Now, with this new absurd report from Eurostat, we can confirm what we have suspected all along – the Citadele privatization to the EBRD in 2010 was also completely fake! And, this second cover-up fraud is still continuing now in 2018! It was another fraud designed to dupe and rob Latvian citizens and creditors. And once again, Eurostat knows about it however is doing nothing to stop it! The only people who benefit are puppet Dombrovskis and his masters from Putin’s Oligarchy.

In this report, Eurostat and EY admit that they know that the EBRD didn’t really buy Citadele shares from Latvia, but instead Latvia is paying the EBRD to pretend to own shares presumably to dupe Citadele creditors and counterparties, especially its correspondent banks. The 2010 Citadele Bank annual report states that the EBRD paid 35 million euros to purchase shares and this 2018 Eurostat report says Latvia secretly agreed to pay the EBRD 88 million euros to pretend to buy those shares. Latvian taxpayers will get robbed of 53 million euros. Of course the secret reversal wasn’t mentioned in the Citadele annual report because it is an illegal fraud.

This brings up many interesting possibilities for future economic disasters in Latvia. When Parex was split into ‘good bank’ Citadele and ‘bad bank’ Reverta back in 2010, the government said that 50% of Parex assets were bad and would go to the bad bank. That was a big change from 2009 government and EBRD statements that the Parex assets were good.

We knew that at least some of the supposedly ‘good’ assets that went to Citadele were criminal, fraudulent, and therefore ‘bad.’ For example, Parex made loans to Rigas Satiksme that funded bribery by Solaris and Daimler that was revealed in the US v Daimler case. And, Parex made loans to Latvenergo that funded bribery by Alstom that was revealed in the Switzerland v Alstom case. Rigas Satiksme and Latvenergo have no obligation to repay these loans, however haven’t repudiated the debts so far because of the government policy of covering-up rather than prosecuting corruption.

Now we must wonder – were any of the Parex assets really ‘good’? Since nobody would buy shares in Citadele, and Latvia had to pay the EBRD to pretend to buy that bank, perhaps Citadele was already looted at inception? And, what about the Ripplewood investors from the USA? Were they duped and robbed by Latvia and the EBRD? Did Latvia lie to Ripplewood that the EBRD invested even though the EBRD didn’t really invest? Or, maybe Ripplewood is part of the scam? Maybe Latvia also secretly paid Ripplewood to pretend to invest to make the bank seem ‘American’ even though its function is still offshore banking for Russia and Ukraine provided by the same money launderers who cleaned out Parex?